Digital Barriers plc US Contract Awards (2872K)

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RNS Number : 2872K

Digital Barriers plc

20 September 2016

20 September 2016

Digital Barriers plc

("Digital Barriers" or the "Group")

US Contract Awards

$4.6 million contract awards and additional $3.8 million option with US Federal Agency

Digital Barriers plc (the "Group"), the specialist provider of visually intelligent solutions to the global surveillance, security and safety markets, is pleased to announce that it has secured two contracts for its EdgeVis Live advanced wireless surveillance technology. The contracts have been secured with a flagship US Federal law enforcement agency, with one valued at $3.8 million and the second at $0.8 million. Revenue from both contracts is expected to be fully recognised in this financial year and the larger of the two contracts includes an option for an additional $3.8 million order that can be exercised by the customer within twelve months.

The Group's EdgeVis Live surveillance technology offers secure distribution of real-time video from anywhere to anywhere, featuring end-to-end security, real world resilience and network optimisation that can stream usable live video using 60% less bandwidth than standard technologies. EdgeVis Live delivers significant capability benefits and material cost savings over competing technologies, and has now been sold into many of the world's leading law enforcement and defence agencies.

Zak Doffman, Chief Executive Officer of Digital Barriers commented:

"The scale of these contract awards at $4.6 million, along with last week's $2.2 million award with a different US federal agency, clearly demonstrates the significant technical lead that EdgeVis Live enjoys over its competition. It also underscores yet again the strategic value to us of the Brimtek acquisition, which has enhanced our market position and credibility across the US law enforcement landscape. EdgeVis Live continues to build market share across flagship US agencies, providing us with a strong platform for material future growth."

 
 For further information 
  please contact: 
 
 Digital Barriers plc              [phone] 
 Zak Doffman, Chief Executive 
  Officer 
 Sharon Cooper, Chief Financial 
  Officer 
 
 Investec Investment Banking       [phone] 
 Andrew Pinder / Patrick 
  Robb 
 
 FTI Consulting LLP                [phone] 
 Edward Bridges / Matt Dixon 
 

About Digital Barriers:

Digital Barriers provides visually intelligent solutions to the global surveillance, security and safety markets. We deliver zero-latency streaming and analysis of secure video and related intelligence over wireless networks, including cellular, satellite, IP mesh and cloud, utilising significantly less bandwidth than standard technologies.

Our rapidly-installed fixed and mobile solutions for covert, remote and wide-area deployments, as well as vehicle and body-worn applications, have been sold into more than fifty countries, and have been proven in some of the world's most demanding operational environments. We also provide advanced video content analysis and body scanning to identify safety concerns and threats in real-time.

www.digitalbarriers.com

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September 20, 2016 02:01 ET (06:01 GMT)